Gold, diamonds and the maiden appearance of Uzbek jewellery were among the highlights of the year’s most eagerly anticipated jewellery events – the Hong Kong International Jewellery Show and the Hong Kong International Diamond, Gem and Pearl Show organised by the Hong Kong Trade Development Council – which drew to a close on 8 March.

Some 80,000 buyers from 150 countries and regions attended the twin fairs, seeking the latest jewellery innovations and forging sourcing collaborations with the over 4,000 exhibitors from more than 40 countries and regions on-site.

Three pavilions made debuts this year –the Hard Pure Gold Pavilion, the Zhushan Turquoise Pavilion and the Hong Kong Watch Manufacturers Association Pavilion, while the number of buyers from the Philippines, Korea, Australian and Switzerland recorded notable growth.

Presented by the World Gold Council, the Pure Hard Gold Pavilion featured 10 exhibitors making their Hong Kong debuts. According to CEO Ronald Wang, the show proved instrumental in helping Chinese gold manufacturers connect with international buyers. He added that interest in gold products is steadily growing in Southeast Asia, the Middle East and India, where more affordable, lighter-weight gold pieces are attractive to younger middle-class consumers.

Hong Kong exhibitor SimStar Asia Limited, which specialises in high-value, investment-grade diamonds, secured several orders from buyers in Europe and the United States during the show, with total transactions running into the millions of US dollars. The company also projected a 10% increase in annual sales and noted that demand for high-clarity, top-colour white diamonds in the 5 to 10-carat range remains robust, while rare red and blue diamonds are also drawing keen interest from buyers.

First-time exhibitor Fonon Jewelry House from Uzbekistan showcased gold pieces with distinctive Central Asian cultural influences, and drew strong interest from international buyers. Alisher Romanov, Fonon’s Head of Foreign Economic Affairs said: "We are looking to use Hong Kong as a springboard for expansion into other Asian markets. We have already connected with potential buyers from the Chinese Mainland, Malaysia and the Philippines, and expect sales to reach approximately US$50 million (HK$390 million)."

The Uzbekistan delegation took the opportunity to formally sign a Memorandum of Understanding with the HKTDC and the Hong Kong Jewellery Manufacturers' Association to foster collaboration in promoting Uzbekistan's jewellery to global markets through Hong Kong's platform and strengthening bilateral trade ties.

Meanwhile, returning buyers didn’t hesitate to place sizeable orders at the fair. Golden Silver, a major 925 sterling silver jewellery supplier in Latin America and a trade visitor for over 20 years, returned again this year and placed orders with three exhibitors, with combined transactions exceeding US$1.9 million (HK$14.85 million).

The shows served as a dynamic platform for designers seeking collaborations, welcoming over 50 designer exhibitors, including 10 Korean designers making their debut at the fair. They reported strong outcomes and are already considering expanding their presence at next year's edition.

The shows also hosted three design competitions: the 27th Hong Kong Jewellery Design Competition, the Hong Kong International Fashion Chuk Kam Jewellery Design Competition, and the inaugural International Fei Cui Jewellery Design Competition.

A HKTDC on-site survey of 1,509 exhibitors and buyers showed that both buyers and exhibitors are cautiously optimistic about the economic outlook with 44.3% of respondents expect overall sales to increase in the next one to two years while 49% expect sales to remain stable.

In the next three years, technological advancements in artificial intelligence (66.1%), social media (43.7%), and big data (41.5%) are expected to have the greatest impact on the jewellery industry, according to survey respondents.